Alliance Semiconductor Announces Agreement to Sell Interest in Solar Ventures

Alliance Semiconductor Corp. announced that it has signed an agreement to sell its 73.31% interest in Solar Venture Partners, L.P. to several funds affiliated with Willowridge and Thomas Weisel Partners for $5.0 million in cash. Solar Venture Partners is a venture capital partnership that holds investments in a number of early stage companies. The transaction is subject to standard closing conditions, including the consent of the general partner of Solar Venture Partners. The parties announced that they will seek to complete the transaction as promptly as practicable.